Chicken

Solana

Raydium

Daddy Tate

<p class="is-style-lead">Most Pump.fun tokens have plummeted sharply in recent weeks, costing investors millions of dollars.</p> 
<p>Data shows that most of these meme coins have declined by over 20% in the past seven days and more than 50% from their highest points this year. Their combined market cap has now fallen to $391 million.</p> 
<h2 class="wp-block-heading" id="most-pump-fun-tokens-have-crashed">Most Pump.fun tokens have crashed</h2> 
<p>Michi (<a href="https://crypto.news/price/michi/">MICHI</a>), the largest part of the ecosystem, has dropped from $0.49 in May to $0.10, with its market cap shrinking from $187 million to $58 million.</p> 
<p>Daddy Tate (<a href="https://crypto.news/price/daddy-tate/">DADDY</a>), themed after Andrew Tate, has plunged from $0.52 to $0.072, with its valuation slipping to $43 million.</p> 
<p>Similarly, Rapper Iggy Azalea’s (<a href="https://crypto.news/price/mother-iggy/">MOTHER</a>) token has tumbled from an all-time high of $0.22 to $0.0300, bringing its valuation to just over $38 million. Other top Pump.fun tokens that have faced significant declines include Billy, Smoking Chicken Fish, Aura, and Waffles.</p> 
<p> You might also like: <a href="https://crypto.news/rapper-iggy-azalea-says-mother-token-can-be-used-to-buy-smartphones-and-cell-plans/"> Rapper Iggy Azalea says MOTHER token can be used to buy smartphones and cell plans </a> </p> 
<p>Not everyone has suffered big losses, though. Data from <a href="https://defillama.com/protocol/pump?revenue=true&amp;groupBy=cumulative#fees-revenue" target="_blank" rel="">DeFi Llama shows that</a><strong> </strong>Pump.fun’s developers have raked in nearly $100 million in cumulative fees since the platform’s launch, with July being the best month yet. It generated over $28 million in July, following $20 million in June. Pump.fun’s revenue has already surpassed $15 million in August.</p> 
<p>Another key beneficiary of the Pump.fun craze is Sahil Aora, believed to be the mastermind behind some of this year’s most popular celebrity-backed tokens. He is estimated to have made over $30 million.</p> 
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   <p lang="en" dir="ltr">1/ An investigation into Sahil, featuring unseen footage, who made $30M in 2024 by launching tokens for celebrities—most of which dumped to zero<br><br>↓ 🧵 <a href="https://t.co/iSo1kFTSdO" target="_blank" rel="">pic.twitter.com/iSo1kFTSdO</a></p>— Bubblemaps (@bubblemaps) <a href="https://twitter.com/bubblemaps/status/1823752446801228060?ref_src=twsrc%5Etfw" target="_blank" rel="">August 14, 2024</a>
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<h2 class="wp-block-heading" id="justin-sun-launches-sunpump">Justin Sun launches Sunpump</h2> 
<p>Pump.fun’s meme coins have also benefited Solana (<a href="https://crypto.news/price/solana/" target="_blank" rel="noreferrer noopener">SOL</a>), which has seen more activity across its decentralized exchanges like Raydium and Orca. <a href="https://defillama.com/dexs/chains/solana" target="_blank" rel="">Data shows</a> Solana handled over $6.5 billion in transactions in the last 7 days.</p> 
<p>Pump.fun has emerged as a popular platform for generating meme coins. Over the past eight months, users have created more than <a href="https://dune.com/queries/3705945/6235708" target="_blank" rel="">1.8 million tokens</a>, some of which have gone viral. Its technology leverages Solana, a blockchain known for low fees and fast transaction speeds.</p> 
<p>The success of Pump.fun has inspired the creation of other meme coin generators. Last week, Justin Sun unveiled SunPump, which is quickly gaining traction among users.</p> 
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   <p lang="en" dir="ltr">sunpump active users reached an ATH. <br>sunpump newly created tokens reached an ATH. <br>sunpump trading volume reached an ATH. <br>sunpump revenue reached an ATH. <br>sunpump new dev reached an ATH.<br>TO THE SUN🌞<a href="https://t.co/F2C0OsNHhj" target="_blank" rel="">https://t.co/F2C0OsNHhj</a> is only 8 days old. What’s next?</p>— H.E. Justin Sun 孙宇晨(hiring) (@justinsuntron) <a href="https://twitter.com/justinsuntron/status/1825486196879011901?ref_src=twsrc%5Etfw" target="_blank" rel="">August 19, 2024</a>
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<p> You might also like: <a href="https://crypto.news/solana-forms-bullish-patterns-as-dex-volume-open-interest-slip/"> Solana forms bullish patterns as DEX volume, open interest slip </a> </p>

Pump.fun token crash leaves investors stuck holding the bag

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